There is little doubt that the internet and mobile revolution of
the digital age have caused a paradigm shift in retail. Many
shoppers no longer take for granted that the deal they're
receiving at brick-and-mortar stores is the best price available
and businesses must adapt to the challenges (and potential
benefits) of society's constant connectivity through mobile
devices.

At first, the use of mobile devices in-store for price shopping
was considered a threat by most retail businesses. Many still see
it as such. The ease in which someone can take an item, scan it,
and find out how much it would cost on Amazon or at the retail store down the block
has caused many to rethink how they price and present their
merchandise.

For those who do not want to go the way of Circuit City or
Borders, there are ways to take advantage
of the shift. First and foremost is understanding and
acknowledging the facts. Over 40% of shoppers aged 18-29 search
for online product reviews, while over 35% of the same age-group
use their phones for price-matching.

One might assume that the next age group, 30-49, would be second
on the list. That is not the case. People between the age of
50-64 are much more likely to use their mobile devices and the
internet to compare.

In this graphic by Milo, the numbers
are broken down for us. Retail is changing. Consumer behavior is
driving the change. Which stores will adapt and which ones will
fail?